论文部分内容阅读
在公司治理实践中,经理自主权配置与监督机制缺一不可。对上市公司内部监督机制及其有效性进行研究发现:就股东监督的有效性而言,股东大会次数、股东大会出席股份比率、最终控股股东属性、第一大非国有股比率四项指标能够有效度量股东监督的有效性,保障公司价值最大化;就董事会监督的有效性而言,独立董事比率、董事会次数、次级委员会设置状况、持股关联董事比率四项指标能够有效度量董事会监督的有效性,从而保障公司价值最大化。
In corporate governance practice, the allocation of managers autonomy and supervision mechanisms are indispensable. The research on the internal supervision mechanism of listed companies and its effectiveness shows that for the effectiveness of shareholder supervision, the number of shareholders ’general meetings, the ratio of shares at the shareholders’ meeting, the ultimate controlling shareholder’s attributes and the ratio of the largest non-state-owned shares can be effectively measured The effectiveness of the supervision of the shareholders to ensure the maximum value of the company; for the effectiveness of the supervision of the board of directors, the four indicators of the ratio of independent directors, the number of board meetings, the setting of sub-committees and the ratio of directors holding shares can effectively measure the effectiveness of board supervision , To protect the company’s value maximization.